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Geithner Tells NBC S&P Shows "Stunning Lack Of Knowledge About Basic US Fiscal Budget Math"

Tyler Durden's picture





 

Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.

 


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Sun, 08/07/2011 - 18:41 | Link to Comment FLUSA.com
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Geithner submits his Letter of Retardation....

Sun, 08/07/2011 - 18:46 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Fucking hilarious!!

Sun, 08/07/2011 - 18:57 | Link to Comment Troll Magnet
Troll Magnet's picture

All this bickering back and forth seems to me like a bunch of charades to deflect people's attention away from the fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week.  Instead of listening to what these criminals are bickering over, we need to demand an investigation into who knew what, when and how.  

Sun, 08/07/2011 - 19:08 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If you are talking about all the Christian dudes that had come back from three weeks in the Grove last week, then duh!

Sun, 08/07/2011 - 19:24 | Link to Comment Threeggg
Threeggg's picture

"fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week"

Quote of "this" week !

Sun, 08/07/2011 - 21:27 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, which fox currently guarding the hen house do you propose to do the investigating?

Tuco

Sun, 08/07/2011 - 19:49 | Link to Comment Chuck Walla
Chuck Walla's picture

And believe it or don't, NBC is surprised their boy is a feckless and callow idiot. Now, how do they build him up again as the nation's savior? It worked before...

Sun, 08/07/2011 - 18:47 | Link to Comment makeyoumiss
makeyoumiss's picture

One of the best comments I've read in a long time!

Sun, 08/07/2011 - 18:56 | Link to Comment nmewn
nmewn's picture

Turbo Tax Timmah pontificates on math...it just doesn't get any better...LOL!!!

Sun, 08/07/2011 - 18:59 | Link to Comment MarketTruth
MarketTruth's picture

And remember that Chinese STUDENTS literally LAUGHED in Geithner's face when he went there spewing his BS about two years ago. Everyone with a brain knows Geithner's is a dolt and the 5% yearly growth the US Gov is judging their numbers on is a farce.

Sun, 08/07/2011 - 19:01 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

Is it your opinion that those numbers are too low?  Do you think we will have growth over 5 percent for the foreseeable future?  Just messing with you.  He really is a douche. 

Sun, 08/07/2011 - 19:21 | Link to Comment darkstar7646
darkstar7646's picture

The problem with that, MarketTruth, is that the Chinese models are even more farcical.

Sun, 08/07/2011 - 19:35 | Link to Comment Uncle Remus
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Proof then that the Chinese know farcical when they see/hear it.

Sun, 08/07/2011 - 21:35 | Link to Comment IQ 145
IQ 145's picture

Yes, that's a good thing to be remembering. I laughed out loud when I came to the part about China remains a strong buyer of treasuries. Less and less so all the time. What  do you call this? If the Band plays a little louder, maybe the bows won't sink any further into the Atlantic?

Sun, 08/07/2011 - 18:59 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

Math hysteria.

Sun, 08/07/2011 - 19:08 | Link to Comment VisualCSharp
VisualCSharp's picture

Mass hysteria with a lisp? LOL

Although I guess that would be 'math hythteria.'

Sun, 08/07/2011 - 19:00 | Link to Comment WestVillageIdiot
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That's as funny as Obama becoming a golf pro. 

Sun, 08/07/2011 - 19:05 | Link to Comment nmewn
nmewn's picture

ROTFLMAO!!!

Sun, 08/07/2011 - 19:36 | Link to Comment Uncle Remus
Uncle Remus's picture

By virtue of being a politician he was already a "pro".

Sun, 08/07/2011 - 21:25 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, like Bill Clinton the best wood in his bag is his "pencil"!

Tuco

Sun, 08/07/2011 - 19:09 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

No risk at all for a downgrade remember. This guys knows his shit.

Anyone else having issues with zh loading?

Sun, 08/07/2011 - 19:37 | Link to Comment Uncle Remus
Uncle Remus's picture

yep

Sun, 08/07/2011 - 19:45 | Link to Comment Kayman
Kayman's picture

Anyone else having issues with zh loading?

yes. And something called Pressflow / Drupal telling me that I cannot connect to ZeroHedge.

Mon, 08/08/2011 - 00:17 | Link to Comment James
James's picture

Transitory

Sun, 08/07/2011 - 19:43 | Link to Comment asteroids
asteroids's picture

Fucking weasel.

Sun, 08/07/2011 - 18:41 | Link to Comment oogs66
oogs66's picture

his own stunning lack of knowledge! 

Sun, 08/07/2011 - 18:42 | Link to Comment lunaticfringe
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OMG. I think I've just pissed myself laughing so hard!

Sun, 08/07/2011 - 19:05 | Link to Comment LeBalance
LeBalance's picture

clean up crew to Aisle Wight!

Sun, 08/07/2011 - 19:08 | Link to Comment Cheesy Bastard
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Lol.  To aisles of Greece?

Sun, 08/07/2011 - 18:42 | Link to Comment glenlloyd
glenlloyd's picture

I am still amazed that such garbage can flow from the mouth of mr jeethner.

Sun, 08/07/2011 - 18:42 | Link to Comment Bob Sacamano
Bob Sacamano's picture

I'm telling you -- BHO and his administration are beyond arrogant.  They know what is true and, worst yet, they know what is best for the people.  Central planning is the end game. 

Sun, 08/07/2011 - 21:23 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

No!  The end game is "eugenics"!

Tuco

Sun, 08/07/2011 - 18:43 | Link to Comment moregoldplease
moregoldplease's picture

This from the guy that couldn't figure out his tax software!!!!!!!!!!!

Sun, 08/07/2011 - 18:47 | Link to Comment Mactheknife
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No...this from the guy who SAID he couldn't figure out his tax software...Turbo Timmy.

Sun, 08/07/2011 - 19:48 | Link to Comment The Limerick King
The Limerick King's picture

There once was a Klepto named Tim
Who everyone thought was quite dim
With cunning and stealth
He stole all their wealth
Now laughing the loudest is him.

Mon, 08/08/2011 - 00:22 | Link to Comment James
James's picture

Imagine a "Weird"Al Yankovich redoing this song. It's even about Canabilism!\

http://www.youtube.com/watch?v=DGNdvKvbxYQ

Sun, 08/07/2011 - 18:44 | Link to Comment Ramboy
Ramboy's picture

This site is too funny.  Don't you know your leaders reflect your people.

Sun, 08/07/2011 - 18:56 | Link to Comment Quixotic_Not
Quixotic_Not's picture

I haven't voted since We the Sheeple failed to elect Perot in 1992!

Moreover, there's a HUGE section of the USoA that didn't CONSENT to the (D) & (R) Free Shit Empire™...

So from an A-M-E-R-I-C-A-N, not a POS DemoRAT -or- GOPher, I don't find the District of Criminals funny one fuckin' bit!

Sun, 08/07/2011 - 19:17 | Link to Comment Abitdodgie
Abitdodgie's picture

Did you know if you rescind your voting rights you can then challenge paying income tax remember "taxation without representation" well it works the other way round.

Sun, 08/07/2011 - 19:30 | Link to Comment Quixotic_Not
Quixotic_Not's picture

You first!

I keep paying my protection money to the FSA mob, as I'm outnumbered at least 1,000,000 -to- 1 :-(

Sun, 08/07/2011 - 19:22 | Link to Comment darkstar7646
darkstar7646's picture

The only problem is that the Free Shit Empire/Army is the only reason people don't knock down your door and loot your ass dry.

Sun, 08/07/2011 - 21:22 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Ha, ha.  When the looting comes it certainly "will be" the Free Shit Empire/Army.  Have you not yet figured out that the Department of Homeland Security was established to be used against the American people!?  Knock, knock:)

Tuco

Mon, 08/08/2011 - 01:40 | Link to Comment darkstar7646
darkstar7646's picture

Then they might want to be prepared to move rather quickly. Social order is being lost on more than just individual circles these days. If it ever gets above a _small_ mob...

Sun, 08/07/2011 - 18:58 | Link to Comment WestVillageIdiot
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First off, they are our representatives, not our "leaders".  Second off, the crowd on ZH is mostly not the run-of-mill brain dead American that is reflected by the clowns in office. 

Sun, 08/07/2011 - 19:17 | Link to Comment Kayman
Kayman's picture

Come on now Ramboy, tell us what pristine leader you have in your pristine country.

Bet you don't have the guts to tell the truth.

If ya can't take a punch in the mouth then, read, don't comment on ZH.

Sun, 08/07/2011 - 21:25 | Link to Comment geoffb
geoffb's picture

In case you weren't aware of it, our government was captured by bankers circa 1913. We the people, have had little  say in matters since then. No denial here, just harsh, painful truth.

Mon, 08/08/2011 - 00:24 | Link to Comment James
James's picture

But our leaders do not reflect ZeroHedge.

Sun, 08/07/2011 - 18:45 | Link to Comment Ramboy
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NATION FULL OF DENIAL

Sun, 08/07/2011 - 18:45 | Link to Comment MrBinkeyWhat
MrBinkeyWhat's picture

My Winkie is bigger than your winkie. Poop.

Sun, 08/07/2011 - 18:45 | Link to Comment crash_davis
crash_davis's picture

I am amazed that so many hard working god fearing americans will watch that interview and believe mr. jeethner.

Sun, 08/07/2011 - 19:03 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

Boobicus Americanus is easily fooled. 

Sun, 08/07/2011 - 21:40 | Link to Comment IQ 145
IQ 145's picture

The god fearing ones will beieve anything; argument proven as delivered.

Sun, 08/07/2011 - 18:45 | Link to Comment Ramboy
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LIARS & WHORES

Sun, 08/07/2011 - 18:45 | Link to Comment JLee2027
JLee2027's picture

What an arsehole. He's going to down in history next to Bozo the Clown. 

Sun, 08/07/2011 - 18:46 | Link to Comment hamster wheel
hamster wheel's picture

It's a terminal condition.

Sun, 08/07/2011 - 18:46 | Link to Comment Coldfire
Coldfire's picture

The plane would fly so much better without any instruments.

Sun, 08/07/2011 - 18:49 | Link to Comment MsCreant
MsCreant's picture

Is this your way of saying he is a tool?

Sun, 08/07/2011 - 19:19 | Link to Comment Kayman
Kayman's picture

Amazing.... someone believes the plane is still flying.

Sun, 08/07/2011 - 18:47 | Link to Comment hedgeless_horseman
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As to his failure to pay the payroll taxes from 2001 to 2004 while he worked for the International Monetary Fund, Geithner said: "These were careless mistakes. They were avoidable mistakes."

"But they were unintentional," he said. "I should have been more careful."

Sun, 08/07/2011 - 19:18 | Link to Comment Miss Expectations
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S&P should sprinkle those 4 quotes into its defense memos.

Sun, 08/07/2011 - 18:48 | Link to Comment Ramboy
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Skanks in NY watch the housewives of NY and actually think they're nothing like that

Sun, 08/07/2011 - 19:06 | Link to Comment WestVillageIdiot
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+2011

I see that every day. 

Sun, 08/07/2011 - 19:22 | Link to Comment Kayman
Kayman's picture

Ramboy

You must be from out of the country.  If you've been to NY then you would know skank and housewife are one and the same.

Sun, 08/07/2011 - 19:41 | Link to Comment Uncle Remus
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Life denying art imitating life.

Sun, 08/07/2011 - 18:48 | Link to Comment Catullus
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Thank God has only a basic understand of inflationary math. Tough to understand how you can rate something AA+ that pays back .50 to the dollar over 12 years.

Sun, 08/07/2011 - 21:43 | Link to Comment IQ 145
IQ 145's picture

Duhh! plus two. what happened to the thumbs up button; is this the new new normal, or is this just my Chrome browser expressing it's "individuality".

Sun, 08/07/2011 - 18:48 | Link to Comment teolawki
teolawki's picture

Supa Timma!

Sun, 08/07/2011 - 18:48 | Link to Comment Buzz Wired
Buzz Wired's picture

No fudge button on their calculator.

Sun, 08/07/2011 - 18:50 | Link to Comment kaiserhoff
kaiserhoff's picture

Sounds like Timmy has a case of the vapors.  Oh, the trials and tribulations of the one-balled man!

Sun, 08/07/2011 - 18:55 | Link to Comment doomandbloom
doomandbloom's picture

waiting for Banzai to rip him apart..yet again :)

Sun, 08/07/2011 - 18:56 | Link to Comment bbq on whitehou...
bbq on whitehouse lawn's picture

You will let us know when the world ends right? Gold and silver gap 1or 2k and Es gap at least a 500.

Im waiting untill i see a headline: "The world has ended, thank you for playing."

I should'n joke it could be tomarrow. But untill the world ends im just a guy who jumped out a window and as i pass each floor i say ( so far so good).

Still im glad i found this site. Hopefully the finacial world will not end tomarrow.

If it does Walmart looks to see aome solid sales.

Sun, 08/07/2011 - 19:00 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

WMT's same store sales are in freefall.  Google Howard Davidowitz.

Further, think about it, their core customers (low income) are the ones getting butchered.  How can they do well?

Sun, 08/07/2011 - 19:07 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

SNAP

Sun, 08/07/2011 - 19:23 | Link to Comment darkstar7646
darkstar7646's picture

And a real question:

Does anyone actually believe that SNAP/Food Stamps/UI Benefits/SS last another two years in present form?

Sun, 08/07/2011 - 21:46 | Link to Comment IQ 145
IQ 145's picture

See "Brookers" on youtube; "paste, I like to eat paste". 

Sun, 08/07/2011 - 19:24 | Link to Comment Kayman
Kayman's picture

Wallymart-typical short term thinkers.  All the Chinese shit is coming to haunt them.

Sun, 08/07/2011 - 22:42 | Link to Comment FeralSerf
FeralSerf's picture

But they're getting a lot of new low income core customers from the (ex)-middle class.  They're just shopping at Target for a month or two on their way down to the sewer.

Sun, 08/07/2011 - 19:02 | Link to Comment Cheesy Bastard
Cheesy Bastard's picture

The headline will say "World has ended. Women and minotities hardest hit."

Sun, 08/07/2011 - 19:47 | Link to Comment Pure Evil
Pure Evil's picture

Did you mean to say, "Women and Mini-titties hardest hit"?

Sun, 08/07/2011 - 18:57 | Link to Comment css1971
css1971's picture

Wow... And he's in charge of the US government's money. It pretty much explains everything.

 

Sun, 08/07/2011 - 18:57 | Link to Comment keepmydollar
keepmydollar's picture

What an idiot. He can say this because now QE 3 begins on Monday. Ben's printer has gone thru multiple toner cartridges today as he is going to try and absorb all the sales orders tomorrow.

What is even worse is the GSE's debt got a downgrade from this also. My be is they try to protect Treasuries and the GSE's get crushed.

Sun, 08/07/2011 - 19:24 | Link to Comment darkstar7646
darkstar7646's picture

Sold to him; he might be the only bidder come tomorrow morning.

Israel down 7%, Brazil down 6% today.

If this continues, we probably circuit-breaker at the open, and then ALL bets are off.

Sun, 08/07/2011 - 18:57 | Link to Comment slaughterer
slaughterer's picture

Timmy is right.  Be a patriot.  Stand by him.  Defend your country from the S&P.  

Sun, 08/07/2011 - 19:08 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

We're too busy pulling a train on your sister.

Sun, 08/07/2011 - 19:20 | Link to Comment JohnG
JohnG's picture

Harsh.

Sun, 08/07/2011 - 19:23 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

That d-bag has been trolling all day.

Sun, 08/07/2011 - 18:58 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

timmah is tremendously full of shit and lying thru his bankster teeth.  of course.

Sun, 08/07/2011 - 18:58 | Link to Comment tmosley
tmosley's picture

Yeah, it didn't change anything.  US debt is still junk, or at best-near junk.

But fuck it, I'm happy the world isn't (yet) ending, as that gives more time to accumulate silver, and for my industrial panic scenario to play out.  To be honest, I was damn scared today, and seeing things NOT blow up in an unprecedented manner makes me quite happy.

Sun, 08/07/2011 - 21:14 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

+1

 

Tuco

Sun, 08/07/2011 - 18:58 | Link to Comment Astute Investor
Astute Investor's picture

Okay Timmay, then show us in explicit written detail the inaccuracies (assumptions, arithmetic, etc.) in S&P's analysis.  It can't being anymore egregious than the assumptions supporting YOUR budget forecast - above trend GDP growth, below trend inflation, below trend FF rates.  Geithner probably thought S&P should have sent him the report for his approval in advance just like all of the equity analysts did in go-go days pre-Sarbanes-Oxley.

Sun, 08/07/2011 - 18:59 | Link to Comment JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=JnX-D4kkPOQ

Should The Government Stop Dumping Money Into A Giant Hole?

 

The Money Hole is an American Tradition!

Sun, 08/07/2011 - 19:25 | Link to Comment darkstar7646
darkstar7646's picture

One could say the same thing about the Free Shit Army, too.  (Of which most would consider me a member...)

Sun, 08/07/2011 - 18:59 | Link to Comment Quintus
Quintus's picture

Timmy - the little sheep with a lot to learn

http://www.youtube.com/watch?v=7AHvzskE6NQ

Courtesy of Childrens BBC

Sun, 08/07/2011 - 19:04 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Geithner has somewhat a valid argument vs. S&P (btw, a very corrupt outfit)

S&P downgrades USA, but countries like UK (debt to GDP ratio higher than US) and France (long not treated as AAA by the markets) still have AAA.

Sun, 08/07/2011 - 19:00 | Link to Comment Kayman
Kayman's picture

No one made a mistake in the Math ?  It is all pretend bullshit anyway ! Bullshit plus Bullshit equals Bullshit.

Goldman's man Timmy and their bought-and-paid-for puppet Obie have the requisite for the job; unabashed and unmitigated gall.

Sun, 08/07/2011 - 19:01 | Link to Comment Mongo
Mongo's picture

Charles Darwin was wrong

Sun, 08/07/2011 - 19:48 | Link to Comment Uncle Remus
Uncle Remus's picture

No, he was right. The economic and political clusterfuck and the debt-that-can-never-be-repaid is ongoing cost of circumvention.

Sun, 08/07/2011 - 21:51 | Link to Comment IQ 145
IQ 145's picture

Ding Ding. Give that man a kewpie doll!

Sun, 08/07/2011 - 19:04 | Link to Comment Midwest Prepper
Midwest Prepper's picture

The sad thing is that the Sheeple don't know and they don't WANT to know what's going on...  That allows this administration (and others) to drive our country off the cliff.

Sun, 08/07/2011 - 21:52 | Link to Comment IQ 145
IQ 145's picture

I like to call it the "Thelma and Louise method of government financiing".

Sun, 08/07/2011 - 19:08 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

It really is quite simple, the situation we are in, follow the logic....

http://www.youtube.com/watch?v=C9uqPeIYMik

 

Sun, 08/07/2011 - 19:11 | Link to Comment Quixotic_Not
Quixotic_Not's picture

Once the midair portion of this phase is over, the sheeple will be in for a rude awakening  ;-)

Got schadenfreude?

Sun, 08/07/2011 - 19:48 | Link to Comment viahj
viahj's picture

Got schadenfreude?

No, not really.  It is a small man that takes pleasure in watching his fellow common man fall under the hand of the fascists and TBTF.  I've tried to awaken the people.  

Sun, 08/07/2011 - 21:03 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

+1

 

Tuco

Sun, 08/07/2011 - 21:53 | Link to Comment IQ 145
IQ 145's picture

"Are we having fun yet"?

Sun, 08/07/2011 - 19:13 | Link to Comment mrmeland
mrmeland's picture

Did anyone see Austan Goolsbee's face when Alan Greenspan was asked on  Meet the Press by David Gregory if US treasuries were safe to buy and he answered, "Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default." ?... Sunday morning entertainment at its finest.

Sun, 08/07/2011 - 21:49 | Link to Comment gall batter
gall batter's picture

Just read an article about Greenspan's appearance on "Meet the Press".  The big G said the downgrade has caused the US to have a self esteem problem. 

Sun, 08/07/2011 - 21:54 | Link to Comment IQ 145
IQ 145's picture

LOL! OMG; that's a bit much.

Sun, 08/07/2011 - 21:01 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Alan Greenspan and Bill Clinton.  The concept of "shame" has certainly disappeared!

Tuco

Sun, 08/07/2011 - 19:13 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Geithner also thought Bernanke would have a strong dollar policy, when Bernanke and all ivy league economists have taught for decades that lowering a currencie will solve all of the given financial problems.  Dudes just plain clueless, or he is so inside the system that he don't mind lying. 

Sun, 08/07/2011 - 20:59 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Jeepers people.  These people know exactly what they are doing.  They are just following orders.  Where's Nurmeberg when we need it?!

Tuco

Sun, 08/07/2011 - 19:15 | Link to Comment bbq on whitehou...
bbq on whitehouse lawn's picture

I know a lot of people on ZH give Obama grief and they should because; Obama knows better.

I mean really we have all heard his speaches and him debate. This guy knows better then this.

Or maybe we lack the data the knolege Obama has?  Is this truely the best option on the table? Is there no other way?

We all now have to watch and wait to see what others great powers do, when doing will undo all that has been done.

Sun, 08/07/2011 - 19:36 | Link to Comment Kayman
Kayman's picture

This guy knows better then this.

No way !  Goldman's man Paulson figured him out for the stooge that he is.  How many Goldman partner's contributed to his campaign.  

A few million investment for a $20 billion return.  

Sorry pal.  Barry is no leader.

Sun, 08/07/2011 - 19:53 | Link to Comment notadouche
notadouche's picture

Obama is a Chicago politician.  What he knows is how to lie, cheat and steal to get whatever he wants then slither away from it like the snake he is.  He would also acquit himself quite well in the Louisiana politics.  Don't forget the Daiey's run Chicago.  Does anyone remember what Daley did during the 68 democratic convention?  Yet they continue to vote Daley prodgenies.  He must must be very scholarly on the ways of Tammany Hall.  So yes he is smart and clever the way the great theifs of the day were smart.   He has just decided to use his intelligence for evil instead of good.  For self service and political gain instead of what's right for the American people.  In fact I guess all that makes him is just another politician.    Can't think of a greater insult than that these days.  Honor among theives can now be replaced with Honor among politicians.  It's the same thing.  Unfortunately there is no honor for the taxpaying American. 

Sun, 08/07/2011 - 21:58 | Link to Comment IQ 145
IQ 145's picture

Dude; there's a video on youtube of Obummer giving a public speech and saying that he just visited 57 American States. Go there, look it up, right now. You're dreaming, my friend.

Sun, 08/07/2011 - 19:15 | Link to Comment mailll
mailll's picture

S&P  needs to start using fuzzy math.  That's what we use.

Sun, 08/07/2011 - 19:16 | Link to Comment breezer1
Sun, 08/07/2011 - 19:19 | Link to Comment Silverhog
Silverhog's picture

Keep your foot in the door of Mt Cheyenne Timmy. You will need it.

Sun, 08/07/2011 - 19:20 | Link to Comment darkstar7646
darkstar7646's picture

He's right, in his own sick way.

The entire basis that we have 315,000,000 in our population depends on the fact that we can extend and pretend and defy mathematics.

For example, if we were not to have grown (in real dollars) since 1980, we've effectively overextended ourselves by the amount of population from 1980 to now -- and that's pushing, what, 60-80 million?

"Basic US Fiscal Budget Math" is a scam, in real mathematical terms -- and if we are EVER forced to account for that, the country ends, and probably within a few days to a couple of weeks.

Sun, 08/07/2011 - 19:22 | Link to Comment f16hoser
f16hoser's picture

Big fucking words from a Goldman Sachs butt-boy!

Sun, 08/07/2011 - 19:22 | Link to Comment f16hoser
f16hoser's picture

Big fucking words from a Goldman Sachs butt-boy!

Sun, 08/07/2011 - 19:39 | Link to Comment Kayman
Kayman's picture

Merry Christmas from Stalingrad !

Sun, 08/07/2011 - 19:23 | Link to Comment r101958
r101958's picture

These guys are losing more credibility each time. You know what they say 'there is no honor among thieves'.

Sun, 08/07/2011 - 20:50 | Link to Comment Ms. Erable
Ms. Erable's picture

Perhaps it's just your perception of them that's changing. IMO, they had no credibility from day one.

Sun, 08/07/2011 - 19:32 | Link to Comment erg
erg's picture

Why doesn't this guy draw in some eyebrows already. Parrots yank out their own feathers when highly stressed.

Sun, 08/07/2011 - 19:33 | Link to Comment markar
markar's picture

Timmay--if his lips are moving......well, you know.

Sun, 08/07/2011 - 19:36 | Link to Comment OneEyedJack
OneEyedJack's picture

Every time I see Timmy, it reminds me of the movie Ghost.

I can't help but see him as the scumbag banker. If I could post pictures I would show  Tony Goldwyn and him side by side.

A little OT but Hey it fits

 

Sun, 08/07/2011 - 22:52 | Link to Comment FeralSerf
FeralSerf's picture

He reminds me of Benjamin "Bugsy" Siegel, his Kosher Nostra bro.

Sun, 08/07/2011 - 19:40 | Link to Comment Joebloinvestor
Joebloinvestor's picture

What is he gonna say when Moodys and Fitch catch up?

Sun, 08/07/2011 - 22:03 | Link to Comment IQ 145
IQ 145's picture

He's gonna bang his fists on the table and scream till he turns red in the face and yell, "I didn't do it, I didn't do it, my little brother did it".

Sun, 08/07/2011 - 19:44 | Link to Comment notadouche
notadouche's picture

If any CFO were caught keeping their corporate books in the manner that the US does and utilizes US government math they would be spending the rest of their lives living next to Madoff.  The US and Geithner have a stunning lack of basic knowledge in honest and realistic budgeting that goes on in corporate America every day.  

Sun, 08/07/2011 - 19:45 | Link to Comment Shatmadim
Shatmadim's picture

Is this the turbotax support forum? Um, I'm having trouble getting a trillion into the calculator. Can someone help?

Sun, 08/07/2011 - 19:58 | Link to Comment bobert
bobert's picture

I'm a senior citizen who has seen and been involved in a lot of politics in my life.

I have never, never seen any national political figure act as  ignorant as our current president and his secretary of the treasury.

I'm an independent voter and have no ax to grind with any particular political point of view.

The president, a democrat, and the secretary, a republican have no leadership skills. Their ignorance is scary.The vacum of leadership at this time is alarming! Who ever it was that put these muppets into office is no friend of the US. If our president was a leader he would have gathered his department heads together a year ago with this admonition: "Cut your expenditures 5% from fiscal year 2010/2011 effective 7/1/2011. I with the help of the CBO will monitor you monthly. Whomever is not on target will be fired and replaced with someone who understands the gravity of the situation we are in. No exceptions!!! (i.e.the pentegon)!" Instead he played some sort of freshman political ping pong ball of blame trying to get congress to come up with a solution. Pathetic! I'm not happy with this hapless chap at the helm of our country and just as unhappy with the George W Bush carryover whose in charge of the treasury. This could have been handled administratively rather than handing it over to a deadlocked congress.

I'm proud of S&P's. It appears they learned from their failure to downgrade the sub primes as would have been appropriate.They warned that the budget talks needed to come up with $4 trillion in cuts or they would downgrade. Congress and the president didn't listen and came up with a lame attempt at reducing expenditures only $1.5 trillion prox. in expenditures. Hence the downgrade.

Thank you S&P for bringing a sense of reality back into our world. Moody's, Fitch, got the cojones???

Sun, 08/07/2011 - 20:54 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Dear Senior Citizen:  This isn't the 1970s.  The world is now run by an international banking and corporate fascist cartel.  Obama and 95% of congress are bought and paid for.  This collapse is by design.  Time to wake up before the Obamacare death panels get you!

Tuco Benedicto Pacifico Juan Maria Ramirez

Sun, 08/07/2011 - 21:59 | Link to Comment bobert
bobert's picture

Thanks for your kind concern.

Being senior hopefully hasn't dulled my senses as you seem to insinuate.

I'll repeat we need leadership!

The sad irony of our current situation is that a solution exists, however the likelihood of it being implemented ( a reduction in government expenditures) is small.

Sad.

Sun, 08/07/2011 - 22:05 | Link to Comment IQ 145
IQ 145's picture

You're goddam right. we're scrapping the bottom of bozo barrel.

Sun, 08/07/2011 - 20:03 | Link to Comment Forgiven
Forgiven's picture

<-- This from the guy who can't do his taxes!

<-- Transitory

Sun, 08/07/2011 - 20:12 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Yes, Geither is the math wizard.

When discussing liabilities, 1 trillion + 1 trillion = 0

When discussing assets, 0 + 0 = 2 trillion

The fact that this asshat wasn't Peter Principled down to a fast food job many years ago is proof that our system is completely broken.

Sun, 08/07/2011 - 22:10 | Link to Comment IQ 145
IQ 145's picture

The thing is the blogosphere actually exists now; and it sometimes contacts the MSM; just watch Timmy going to get shit on by the ton.

Sun, 08/07/2011 - 21:09 | Link to Comment Dolar in a vortex
Dolar in a vortex's picture

Can we call him

ObamAA+

since he helped earn the downgrade?

New name for Timmay needed.

Sun, 08/07/2011 - 21:32 | Link to Comment Ident 7777 economy
Ident 7777 economy's picture

 

Hmmm ... there is one 'out' for all this, the discovery of a new energy source, like, chceap, easy cold fusion or ZPE.

 

THAT could save us/the world from ruin ...

 

.

Sun, 08/07/2011 - 22:08 | Link to Comment IQ 145
IQ 145's picture

Fuck the World; it's not having any problem; who's going to save us from these fucking Federal Political figures.

Sun, 08/07/2011 - 22:13 | Link to Comment wisefool
wisefool's picture

<sarc>Well. I actually know the new energy source. And I hacked the tax code in a way that makes timmay puff twice into his hawking/einstienian wheel chair.</sarc>

<non sarc> End the friggin tax code before it has 66,666 pages. If you are really good at your job, you should be proud of how much taxes you pay. </non sarc>

Elvis Bragged about how much taxes he paid. Keynes not so much

http://www.youtube.com/watch?v=cAWalYmC170

 

 

Sun, 08/07/2011 - 22:16 | Link to Comment whatswhat1@yahoo.com
whatswhat1@yahoo.com's picture

He is exactly the sock puppet the cartel had in mind for the position.

Sun, 08/07/2011 - 22:16 | Link to Comment whatswhat1@yahoo.com
whatswhat1@yahoo.com's picture

He is exactly the sock puppet the cartel had in mind for the position.

Sun, 08/07/2011 - 22:21 | Link to Comment curious1
curious1's picture

And our beloved old man Buffet also distributed his wisdom regarding how wrong S&P is in this decision.

Tyler, can you pls create a post with S&P email where we can send kudos to the sovereign rating team for having balls and not being enuchs like Moody's (buffet own) and Fitch.

Sun, 08/07/2011 - 23:00 | Link to Comment ZippyDooDah
ZippyDooDah's picture

Little Timmy to Teacher:  "The dog ate my homework."

 

Teacher to Little Timmy:  "You sir, are a lying cunt."

Sun, 08/07/2011 - 23:07 | Link to Comment Buck Johnson
Buck Johnson's picture

CNBC had a two hour special on tonight that was essentially thumping on S&P.  If it wasn't a big deal as the govt. and CNBC have said, why in gods name did they care in the first place and also have all these major meetings in the US and in the EU about what to do or not to do.

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